In the previous bullrun in 2017, Bitcoin found support at the weekly 21 Moving Average multiple times. Once again, in this new uptrend, BTC has pulled back to the 21 MA. Will this signal another leg up? It seems very likely to me!
Bitcoin is just a series of parabolic moves after parabolic moves, quite simple really. Expect big price action going forward! Buy the dip and etc. Easy money folks! Don't miss out.
I expect to dip down and form a large cup and handle pattern before major lift off of the bottom parabolic rising channel.
The dip could range anywhere from 3500 to 6000. My bet is...
My technical analysis of Bitcoin suggests that the next "Bull Run" will not begin until about September of 2019. Honestly I hope I'm wrong. I would love to have a bull run this year, but TA doesn't seem to support that idea. Who knows? Maybe something will act as a catalyst like BAKKT or xRapid and start a bull run this year.
Looks like BTC is in a rising wedge on the daily chart. Possible breakout downwards within a week.
However, if BTC manages to test the overall bearish trend line (Red), it may breakout upward. Unlikely though in my opinion.